Singapore, UK Sign MoU on Fintech Collaboration

November 19, 2018 By Editor By Editor

The agreement builds on the existing fintech bridge between the UK and Singapore and intends to foster closer ties on fintech industry initiatives.

UK FinTech membership association Innovate Finance ​has announced the signing of an MoU (Memorandum of Understanding) with the SFA (Singapore FinTech Association) to cement cooperation and greater collaboration between the two countries’ fintech markets.

The agreement was announced on 13 November during the Singapore Fintech Festival.

The partnership builds on the existing fintech bridge between the UK and Singapore and intends to foster closer ties on industry initiatives and explore more ways to support and promote the two organisations and their members, including through events and research.

“This agreement is representative of Innovate Finance’s continued support for both business and regulatory alignment between international FinTech Hubs,” said Innovate Finance chair Natalie Ceeney. “We intend to work in partnership with the Singapore FinTech Association to ensure a mutually beneficial and competitive environment for FinTech firms to succeed.”

“The SFA looks forward to exploring ecosystem partnerships with our British colleagues, and to strengthening the FinTech bridge of the two leading FinTech hubs of the world,” said Singapore FinTech Association president Hock Lai Chia.